ADAR1 Capital Management LLC Takes $1.73 Million Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

ADAR1 Capital Management LLC bought a new stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 30,941 shares of the company’s stock, valued at approximately $1,732,000. ADAR1 Capital Management LLC owned 0.05% of Rhythm Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of RYTM. FMR LLC lifted its position in shares of Rhythm Pharmaceuticals by 79.7% during the 3rd quarter. FMR LLC now owns 50,295 shares of the company’s stock valued at $2,635,000 after acquiring an additional 22,306 shares during the period. BNP Paribas Financial Markets increased its position in shares of Rhythm Pharmaceuticals by 307.1% during the third quarter. BNP Paribas Financial Markets now owns 14,425 shares of the company’s stock worth $756,000 after acquiring an additional 10,882 shares in the last quarter. Principal Financial Group Inc. lifted its position in Rhythm Pharmaceuticals by 241.9% in the 3rd quarter. Principal Financial Group Inc. now owns 32,586 shares of the company’s stock valued at $1,707,000 after acquiring an additional 23,054 shares in the last quarter. Barclays PLC boosted its position in shares of Rhythm Pharmaceuticals by 79.6% during the third quarter. Barclays PLC now owns 106,397 shares of the company’s stock valued at $5,574,000 after buying an additional 47,166 shares during the last quarter. Finally, KBC Group NV grew its holdings in Rhythm Pharmaceuticals by 78.2% during the fourth quarter. KBC Group NV now owns 2,251 shares of the company’s stock worth $126,000 after buying an additional 988 shares in the last quarter.

Analysts Set New Price Targets

Several analysts have recently commented on RYTM shares. Morgan Stanley reiterated an “overweight” rating and issued a $72.00 target price on shares of Rhythm Pharmaceuticals in a report on Friday, March 7th. JMP Securities restated a “market outperform” rating and set a $75.00 price target on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. Canaccord Genuity Group upped their price objective on Rhythm Pharmaceuticals from $80.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Oppenheimer started coverage on Rhythm Pharmaceuticals in a report on Friday, December 20th. They issued an “outperform” rating and a $76.00 price objective for the company. Finally, Needham & Company LLC lifted their target price on Rhythm Pharmaceuticals from $64.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, March 18th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Rhythm Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $69.46.

Rhythm Pharmaceuticals Stock Performance

NASDAQ:RYTM opened at $46.95 on Monday. The firm has a 50-day simple moving average of $54.57 and a two-hundred day simple moving average of $55.09. The firm has a market cap of $2.97 billion, a P/E ratio of -10.84 and a beta of 2.32. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $35.17 and a fifty-two week high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.03). The business had revenue of $41.83 million during the quarter, compared to analysts’ expectations of $38.48 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. On average, equities research analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Insider Activity

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 1,281 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $76,129.83. Following the transaction, the insider now directly owns 2,657 shares of the company’s stock, valued at approximately $157,905.51. This trade represents a 32.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Christopher Paul German sold 635 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $57.22, for a total transaction of $36,334.70. Following the completion of the transaction, the chief accounting officer now directly owns 2,070 shares in the company, valued at approximately $118,445.40. The trade was a 23.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 108,131 shares of company stock valued at $5,781,098 over the last three months. Insiders own 5.60% of the company’s stock.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), a rare melanocortin-4 receptor for the treatment of pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1, leptin receptor (LEPR) deficiency obesity, and Bardet-Biedl and Alström syndrome.